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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Assets    
Investment in hotel properties, net $ 4,155,048 $ 4,219,116
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures 6,644 6,522
Cash and cash equivalents 479,047 665,341
Restricted cash reserves 43,254 48,528
Hotel and other receivables, net of allowance of $322 and $274, respectively 37,876 31,091
Operating Lease, Right-of-Use Asset 143,606 144,988
Prepaid expense and other assets 56,182 33,390
Total assets 4,921,657 5,148,976
Liabilities and Equity    
Debt, net 2,210,725 2,409,438
Accounts payable and other liabilities 129,962 155,136
Contract with Customer, Liability 21,434 20,047
Operating Lease, Liability 122,326 123,031
Accrued interest 8,210 19,110
Distributions payable 8,208 8,347
Total liabilities 2,500,865 2,735,109
Commitments and Contingencies (Note 10)
Shareholders’ equity:    
Series A Cumulative Convertible Preferred Shares, $0.01 par value, 12,950,000 shares authorized; 12,879,475 shares issued and outstanding, liquidation value of $328,266, at March 31, 2022 and December 31, 2021 366,936 366,936
Common shares of beneficial interest, $0.01 par value, 450,000,000 shares authorized; 166,843,586 and 166,503,062 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively 1,668 1,665
Additional paid-in capital 3,097,166 3,092,883
Accumulated other comprehensive income (loss) 11,214 (17,113)
Retained Earnings (1,069,769) (1,046,739)
Total shareholders’ equity 2,407,215 2,397,632
Noncontrolling interests:    
Noncontrolling interest in consolidated joint ventures 7,368 9,919
Noncontrolling interest in the Operating Partnership 6,209 6,316
Total noncontrolling interests 13,577 16,235
Total equity 2,420,792 2,413,867
Total liabilities and equity $ 4,921,657 $ 5,148,976